Addapedia Odisha | Daily Current Affairs | 05 August 2024 | Download PDF

National and International News

• The Union Minister of Consumer Affairs, Food and Public Distribution & New and Renewable Energy recently launched Version 4.0 of the Price Monitoring System (PMS) Mobile app.

About Price Monitoring System App:

• Price Monitoring Division (PMD):
  • Responsible for monitoring prices of selected essential commodities.
  • Launched the PMS App in 2021 for daily price reporting.
• Source of Price Data:
  • Retail and wholesale prices from 550 centers.
  • Data received daily from State Civil Supplies Departments through the Mobile App.
• Commodities Monitored:
  • Initially Monitored (22 commodities):
    • Rice, Wheat, Atta, Gram Dal, Tur (Arhar) Dal, Urad Dal, Moong Dal, Masur Dal, Sugar, Gur, Groundnut Oil, Mustard Oil, Vanaspati, Sunflower Oil, Soya Oil, Palm Oil, Tea, Milk, Potato, Onion, Tomato, Salt.
  • Newly Added (16 commodities):
    • Bajra, Jowar, Ragi, Suji (wheat), Maida (wheat), Besan, Ghee, Butter, Brinjal, Egg, Black Pepper, Coriander, Cummin seed, Red chillies, Turmeric powder, Banana.

• The Mahila Samman Savings Certificate scheme, which was introduced for a two-year period, is unlikely to be extended beyond its March 2025 deadline, according to official sources.

About MSSC Scheme:

• Announced in Budget 2023.
• Available for a two-year period, up to March 2025.
• Dedicated to women and girls of all age groups.
• Risk-free scheme.
• Benefits: Encourages women to adopt formal financial saving instruments.
• Features:
  • Eligibility:
    • Any individual woman.
    • Minor accounts can be opened by guardians.
• Investment:
  • Minimum deposit: Rs. 1000.
  • Deposits in multiples of one hundred rupees.
  • Maximum deposit: Rs. 2 lakhs.
• Interest Rate:
  • Fixed interest rate of 7.5%.
  • Interest compounded quarterly and credited to the account.

• India and Russia recently conducted a Maritime Partnership Exercise (MPX) in St. Petersburg.

About Maritime Partnership Exercise:

• Occasion: Conducted on the 328th Russian Navy Day.
• Participating Ships:
  • India: INS Tabar
  • Russia: Soobrazitelny
• Significance:
  • Marks a significant milestone in maritime cooperation between India and Russia.
  • Reinforces commitment to peace, stability, and security in the region.

• The India Meteorological Department recently used the ‘Standardised Precipitation Index’ (SPI) to analyze trends in precipitation and drought-like conditions over India.

About Standardised Precipitation Index:

• Purpose: Estimates wet or dry conditions based on precipitation variables.
• Calculation Basis:
  • Based on long-term precipitation record for a specific location.
  • Requires a long-term period (preferably longer than 30 years).
• Index Nature:
  • Negative for drought conditions.
  • Positive for wet conditions.
  • Becomes more negative or positive with increasing severity of dry or wet conditions.
  • Time Scales: Includes timescales of 1, 2, 3, 6, 9, 12, 24, 36, 48, 60, and 72 months.

• The Union Minister of Cooperation recently informed the Rajya Sabha about Bhartiya Beej Sahkari Samiti Limited (BBSSL).

About BBSSL:

• Establishment: Set up under the Multi-State Cooperative Societies (MSCS) Act, 2002.
• Promoters: IFFCO, KRIBHCO, NAFED, National Dairy Development Board (NDDB), and NCDC.
• Functions:
  • Production, procurement, and distribution of quality seeds under a single brand via cooperatives.
  • Improve crop yield and promote indigenous natural seeds.
  • Increase seed replacement rate and varietal replacement rate.
  • Ensure farmer involvement in the production of certified seeds.
  • Focus on production, testing, certification, procurement, processing, storage, branding, labeling, and packaging of foundation and certified seeds.
  • Nodal Agency: Ministry of Cooperation.

• Odisha has witnessed a significant 16% growth in GST collection for the month of July. 
• The state’s revenue from GST has reached Rs 4,925.02 crore, surpassing the previous year’s collection by a considerable margin. 
• This positive trend indicates a robust economic activity within the state and contributes to Odisha’s overall financial health.
• The consistent growth in GST revenue is a promising sign for the state’s economy.

About GST:

• GST stands for Goods and Services Tax. 
• It is a comprehensive, multi-stage, destination-based tax levied on the supply of goods and services. 

This means:   

• Comprehensive: It subsumes most indirect taxes like VAT, service tax, excise duty, etc.   
• Multi-stage: Tax is charged at each stage of the supply chain, but only on the value added.   
• Destination-based: The final consumer in the state of consumption bears the tax.   

Key Constitutional Provisions:

• 122nd Amendment: This amendment introduced Articles 246A, 269A, and 279A to the Constitution.
• Article 246A: Grants concurrent powers to the Centre and states to make laws on GST.   
• Article 269A: Defines the levy and collection of Integrated GST (IGST) on inter-state supply of goods and services.   
• Article 279A: Establishes the GST Council, a body consisting of representatives from the Centre and states, to make recommendations on GST-related matters.

Key benefits of GST:

• Reduced tax burden: Eliminates cascading effect of taxes.   
• Improved compliance: Simplified tax structure.   
• Common national market: Reduces interstate trade barriers.   
• Increased revenue: Better tax collection efficiency. 

• Rural Development Minister Rabi Narayan Naik informed that The Panchayats (Extension to Scheduled Areas) Act, or PESA, is set to be implemented in Odisha soon.

About:

• PESA stands for Panchayats (Extension to Scheduled Areas) Act, 1996. 
• It was enacted to extend the provisions of Part IX of the Constitution (related to Panchayats) to the Scheduled Areas, ensuring a degree of self-governance for Panchayats and Gram Sabhas
• It’s a law designed to empower tribal communities living in Scheduled Areas of India by granting them greater self-governance.   

Key points:

• Extends Panchayati Raj: Brings the benefits of Panchayati Raj system to tribal areas, but with modifications to suit their customs and traditions.   
• Gram Sabha Power: Gives significant power to Gram Sabhas (village assemblies) in decision-making on local issues.   
• Customary Rights: Recognizes and protects the customary rights of tribal people over land, forest resources, and water bodies.   
• Consultation: Mandates consultation with Gram Sabhas on matters like land acquisition, resettlement, and development projects.   
• Empowerment: Aims to empower tribal communities to manage their own affairs and preserve their cultural heritage

States under PESA:

• The PESA Act is applicable to 10 Indian states with significant Scheduled Areas:
• Gujarat
• Jharkhand   
• Chhattisgarh
• Odisha
• Madhya Pradesh
• Maharashtra
• Andhra Pradesh
• Telangana
• Mizoram
• Tripura

• The Odisha government plans to establish over 100 new cooperative societies in Ganjam district.
• This initiative aims to strengthen the cooperative sector in the region. 
• The focus is on agriculture and dairy, with plans to set up new primary agriculture cooperative societies (PACS) and primary milk cooperative societies. 
• Additionally, existing PACS will be upgraded to offer a wider range of services. 
• This move is expected to benefit farmers and dairy producers in the district by providing better access to credit, inputs, and markets

Cooperative Societies:

• The Indian Constitution, through the 97th Amendment Act of 2011, accorded constitutional status to cooperative societies. 
• This amendment significantly enhanced the role and importance of cooperatives in the country

Primary Agricultural Credit Societies (PACS):

• PACS are the grassroots level institutions of the cooperative credit structure in India. 
• They operate at the village level and provide financial services primarily to farmers and rural communities.   

Key Functions:

• Credit provision: Offering short-term loans for agricultural activities like sowing, harvesting, and purchasing inputs.   
• Deposit mobilization: Accepting deposits from members to increase their resource base.   
• Other services: Providing services like distribution of fertilizers, pesticides, and seeds

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